Links - 6/17/2020
“There can’t be a rule that always works.... These things cannot be reduced to a rule. The market operates so as to confound rule makers.... It all comes down to judgment. If we’re going to have superior investment performance we have to have superior judgment. You can work on your processes, both intellectually and emotionally, but superior judgment isn’t something you can order up. And not everybody can necessarily attain it. I think that one of the most important things is to dismiss the concept of a process or rule that always works in the absence of superior judgment.” —Howard Marks
A nice collection of old Peter Lynch articles (LINK)
Marvin Rush's School of Hard Knocks (video) [H/T @iancassel] (LINK)
Q&A with Chris Mayer (LINK)
Taxpayers Have a Right to Know Who Is Getting Their Stimulus Money - by John Cassidy (LINK)
Hierarchy of Marketplaces — Level 2 (LINK)
Horizon Kinetics: Asset Light, Real Assets – Economically Resilient Business Models (audio recorded in May 2020) (LINK)
a16z Podcast: Real Estate in a Pandemic: Homeowners and Buyers (Part 1) (LINK)
a16z Podcast: Real Estate in a Pandemic: Renters and Landlords (Part 2) (LINK)
The Joe Rogan Experience (podcast): #1492 - Jocko Willink (LINK)
TED Talk: My secret to staying focused under pressure | Russell Wilson (video) (LINK)
“He who sees the past as surprise-free is bound to have a future full of surprises.” —Amos Tversky